Blog: P2P





     File sharing allows data to be accessed and transmitted from one computer to another. Through the help of file sharing, people are able to work on the same documents or data without having to worry about their physical location or if they can gain computer access. File sharing can occur through various ways. File sharing consists of allowing access to not only documents, but also digital media such as computer programs, multimedia such as images/videos/audio, and electronic books as well. What is great about P2P file sharing is that "it allows users to share files online through a network of software programs." P2P stands for peer-to-peer, and this type of file sharing uses peer-to-peer networking technology. One example of P2P file sharing is through a large peer-to-peer network called Gnutella. This network enables users to connect to the network and send out a request for a file that the user desires to have on their own computer. Gnutella is used to share music files and allows network members to to share any type of file. Whereas, Napster, another peer-to-peer file sharing service allows the sharing of digital audio files, such as songs, but only encoded in MP3 format.  One great benefit of P2P file sharing is that the files that are shared are usually free of charge. An old P2P file sharing network I remember is LimeWire. From what I recall, LimeWire was a free peer-to-peer file sharing software that allowed people to download any song to their iPods/computers. This lowered the expense of having to buy every song a user wanted to listen to. It also broadened the genre spectrum of songs a participant of LimeWire was exposed to. Users could search and find different types of music which allowed greater groups of people to gain exposure to different artists and categories of music. LimeWire is unfortunately discontinued; however the benefits of this P2P network were widely spread throughout their market. A peer-to-peer lender such as the Lending Club allows people to come together outside of financial institutions to create lending to one another more accessible. With the help of Lending Club, people are able to avoid inconvenient circumstances they experience at banks such as high interest rates. Lending Club allows applying for loans to be quick and easy while offering lower rates as well. As explained in the article "Peers Find Less Pressure Borrowing From Each Other," investors are able to make a profit and consumers are able to get lower rates compared with "a conventional lender because peer-to-peer lending operates like a marketplace" (Kaufman). Peer-to-peer lending allows the exchange of funds to be more direct between investors and borrowers. Technology is in charge of the exchange or transactions which occur, and the inclusion of technology also indicates lower costs. P2P is a type of file sharing that generates numerous benefits aside from solely allowing others to work on the same data at different locations.





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